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9342-8530 Quebec Inc DGCRF

Diagnocure Inc is a Canada based biotechnology company. It is primarily engaged in the business activity of development and commercialization of products relating to the diagnosis of cancer. The group generates its revenue from research and license agreement. The head office of the company is located in Quebec, Canada.


GREY:DGCRF - Post by User

Post by modulexon Jan 06, 2016 11:15am
177 Views
Post# 24433349

DIAGNOCURE-HOLOGIC PROPOSED PCA3 ASSET SALE IS FLAWED

DIAGNOCURE-HOLOGIC PROPOSED PCA3 ASSET SALE IS FLAWEDJanuary 6, 2016 Mr. Michael S. Piwowar Chairman Securities and Exchange Commission SEC Headquarters 100 F Street, NE Washington, DC 20549 Mr. Piwowar: On December 23, 2015, canadian public-listed company DiagnoCure inc. headquartered at 4535 Wilfrid-Hamel blvd., suite 250, Quebec QC G1P 2J7, issued the News Release below informing of an agreement to sell to american public-listed company Hologic, Inc., headquartered at 250 Campus Drive, Marlborough, MA 01752, its "PCA3" prostate-cancer molecular test asset. The proposed sale is not disclosing on what financial basis the terms of the agreement have been reached, neither does it take into account the goodwill and potential values of the asset in the offering price. It is therefore problematic to assess the legitimacy of the transaction without fundamental questions being answered. On December 30, 2015, I have e-mailed Hologic's President anc CEO, Mr. Stephen P. MacMillan, via the company's VP, Investor Relations and Corporate Communications, Mr. Michael Watts (michael.watts@hologic.com). On January 4, 2016 Mr. Watts replied by e-mail that Hologic will not increase the amount of the transaction and that DiagnoCure's board has also received a fairness opinion from KPMG on the transaction, which is rubbish. Here again, Mr. Watts does not say on what grounds such pretended fairness opinion was delivered and omits or refrain to mention what percentage of DiagnoCure shareholders is required to give approval to the said transaction. It is somewhat puzzling that Hologic did not issued or posted a News Release on its website (www.hologic.com) regarding this transaction, indicating at first sight the nil, trivial importance given by Hologic to the transaction. In light of the absence of good corporate faith on the part of Hologic and its inability to demonstrate a judicicous analysis of the proposed transaction, I am hereby asking the U.S. Securities and Exchange Commission to forbid Hologic from proceeding to the consummation of the transaction in its present flawed form.
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